The Right Way to Influence Pre-Purchase Behaviour

The Right Way to Influence Pre-Purchase Behaviour

Remember when marketers ran newspaper ads with discount coupons to encourage outlet visits? Customers had to cut and fill the coupon and present it at the billing counter. Such tedious tactics seem outdated in today’s digital world in order to influence pre purchase customer decisions. Retailers now have the privilege of personalizing coupons based on individual customer preferences by analyzing all the relevant data captured through the customer’s buying patterns and purchase history. Each customer can then be targeted with personalized offers and recommendations based on specific insights.

Advanced technologies can aid Retailers Identify Customer Buying Behavior Patterns and Preferences

To target a customer with tailored offers, he or she must have a unique identifier – a mobile phone is the obvious choice, given its ubiquitous nature. Retailers are now turning to facial recognition technology and AI-powered footfall counters. These intelligent technologies also help retailers study their customers’ likes, dislikes and navigation patterns around the store, and enables them to offer superior personalized experiences.

Retailers are also using location-based technology to study their customers. Geo-targeting technology can help brands target its customers based on their location – for instance messages about a sale in a particular locality can be pushed to customers’ mobile phones. Within a certain virtual marked off radius around the store, the brands can further target customers with short-time discounts using Geo-fencing, which employs GPS technology in a customer’s smartphone to push specific messages to the device. Retailers can also use in-store beacon technology that can communicate with a customer’s smartphone and send out targeted offers. Beacons can also be used to personalize the shopping experience for its customers. While these technologies help retailers reinvent the shopping experience, there is a flip side to such advancements. These technologies will work only after the customer takes specific action – i.e the customer needs to download the store’s mobile app, keep it active, and ensure that the bluetooth or GPS is turned on. There is always an inherent risk of annoying customers or losing their interest by asking them to take a concerted effort to avail offers or coupons. The need of the hour is to adopt a non-intrusive method that eliminates the above mentioned pitfalls and helps influence customer behavior in a subtle manner, by enabling the retailer to initiate a customer-oriented action.

For retailers, customer retention has always been a big challenge, especially when it comes to influencing pre-purchasing behavior and gathering customer data without asking the customer to carry out certain set of tasks. So how can you determine a non-intrusive method to engage with your customers? The answer lies in adopting new-age technology initiatives and big data capabilities that have the power to indirectly influence the customer’s pre-purchase buying behavior. Stay tuned to our product and blog updates to learn more on how you can positively influence pre-purchase consumer behavior patterns by avoiding any annoying and intrusive techniques.

 

Showrooming and Webrooming: Are They Two Sides of the Same Coin?

Showrooming and Webrooming: Are They Two Sides of the Same Coin?

The retail industry is going through a dramatic revolution with an unprecedented impact of tech-savvy customers indulging in one-click purchases. From checking online reviews for products to comparing prices on different websites, consumers have multiple options at bay to keep retailers on their toes.

Two principal phenomena that are defining the retail ecosystem today are ‘Showrooming’ – a practice of browsing products in-store but actually purchasing them online and ‘Webrooming’ – where shoppers research for products online but eventually purchase them offline in physical stores.

Retailers across the world are facing a challenge of leaking revenue owing to either one of the above phenomena. But can leveraging both trends be a win-win situation for all the parties involved?

Embrace Interchanging Retail Trends

According to an independent study, 46% consumers showroom while 69% webroom. Also, a Forrester Research study predicts that web rooming will result in $1.8 trillion in sales by 2017. These stats show that while consumers want to avail the benefits of online shopping (convenience, discounts), they still crave for an in-store retail experience, either due to the look and feel factor or due to sizing and personal preferences issue.

One common attribute that stands out is the consumer’s need for a seamless shopping experience –with respect to both the channel and the platform. This observation proves the fact that retailers need to be present across different channels (in-store, mobile, social, web) and improve their customer engagement strategy to provide consistent shopping experiences.

Omnichannel Customer Engagement is Key

Online shopping has taken on a new dimension with the emergence of mobile platforms that offer a user-friendly, intuitive shopping interface. In this context, showrooming and webrooming are becoming more relevant than ever before. According to another Forrester Research study, smartphone and tablet commerce will reach $293 billion in sales by 2018. Smart retailers should realize what can attract and retain mobile-shoppers – from detailed product descriptions, customer reviews, and product availability information to easy price comparisons.

Brands can enhance their store experience with exclusive apps for in-store shoppers or by synchronizing mobile payments and mobile loyalty programs. Having well-trained staff with knowledge of multi-channel inventory or a user-friendly website with a strong e-commerce engine will also help influence consumer purchase decisions.

Implementing an omnichannel approach is the best way to stay ahead of the curve to handle these new changes and trends in retail value chain. It’s all about providing shoppers with one digital channel that runs across multiple platforms to ensure an enhanced retail experience. Technology is a great enabler to balance out both showrooming and webrooming trends. Retailers need to step up and implement the right technology measures to cater to their customers’ shopping expectations and offer superior, enriching experience across all platforms and channels.

 

Free EPIC Big Data Marketing Webinar!

Free EPIC Big Data Marketing Webinar!

Strategies for improving customer experience using your marketing big data

March 5th 2:00PM SGT/ 11:30AM IST

 

Great brands don’t just market themselves, they build genuine loyalty. When brands engage with customers across their preferred channels, customers build a relationship, make more purchases and become their lifelong fans. By harmonizing all the data a company collects, brands can learn exactly what their customers want to know from them, when they want it and what channel they prefer to hear it from. Big data is fueling the future of retail, and you need to make sure you’re all fuelled up!

In this Webinar, you will learn;

  • The best practices of retail brands across the world.
  • How to build a great omnichannel customer experiences
  • How to build a profitable engagement through automated personalized recommendations
  • The Do’s and Don’ts of efficient customer service

We’ve got a great speaker lined up in Capillary’s Vice President of Professional Services, Govind Seshadri. Govind heads Analytics, Systems Integrations, Managed Services and Technical Support functions at Capillary and brings over 20 years of IT and consulting experience. He is a published author with Cambridge Press and has held leadership roles at Cognizant, Sun Microsystems/SeeBeyond and StoreRunner Network.

Govind plans to address many of the “Top Asks” we’ve received from retailers:-

  • Data Collection and Enrichment
    • Data hygiene, Brand syndicates, Merging identification
  • Big Data Analytics
    • Mostly descriptive with segmentation and attribution; moving to predictive
  • Simplified Retail Processes
    • Close of day operation, Merchandising
  • Personalized Campaigns
    • Brand building, Bounce-back, Acquisition
  • Building Loyalty
    • Increase redemption rate, Gamification, Countering “Showrooming”
  • Cross-sell/Upsell
    • Intelligent recommendations
  • Customer Complaints and Feedback
    • CSAT, Surveys, Social sentiments

Join us on Thursday, March 5th, 2015 to learn the must-knows in creating an efficient omni-channel customer experience using Big Data.

Can’t wait untill March 5th? Want to learn more about Capillary’s Intelligent Customer Engagement™ suite?